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Tue Jan 24, 2012, 01:23 PM

 

Bill Moyers & Michael Winship: The White House-Wall Street Revolving Door Just Keeps Spinning Along

The Washington-Wall Street Revolving Door Just Keeps Spinning Along
by Bill Moyers and Michael Winship
January 24, 2012


"Citigroup Replaces JPMorgan as White House Chief of Staff."

http://gawker.com/5874559/citigroup-replaces-jp-morgan-as-white-house-chief-of-staff

.... Jack Lew is President Obama’s new chief of staff -- arguably the most powerful office in the White House that isn’t shaped like an oval. He used to work for the giant banking conglomerate Citigroup. His predecessor as chief of staff is Bill Daley, who used to work at the giant banking conglomerate JPMorgan Chase, where he was maestro of the bank’s global lobbying and chief liaison to the White House.

Daley replaced Obama’s first chief of staff, Rahm Emanuel, who once worked as a rainmaker for the investment bank now known as Wasserstein & Company, where in less than three years he was paid a reported eighteen and a half million dollars.

The new guy, Jack Lew – said by those who know to be a skilled and principled public servant – ran hedge funds and private equity at Citigroup, which means he’s a member of the Wall Street gang, too. His last job was as head of President Obama’s Office of Management and Budget, where he replaced Peter Orzag, who now works as vice chairman for global banking at – hold onto your deposit slip -- Citigroup.

President Obama may call bankers “fat cats” and stir the rabble against them with populist rhetoric when it serves his interest, but after the fiscal fiasco, he allowed the culprits to escape virtually scot-free. When he’s in New York he dines with them frequently and eagerly accepts their big contributions. Like his predecessors, his administration also has provided them with billions of taxpayer dollars – low-cost money that they used for high-yielding investments to make big profits. The largest banks are bigger than they were when he took office and earned more in the first two-and-a-half years of his term than they did during the entire eight years of the Bush administration. That’s confirmed by industry data.

Read the full article at:

http://www.commondreams.org/view/2012/01/24-3

20 replies, 1947 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Arrow 20 replies Author Time Post
Reply Bill Moyers & Michael Winship: The White House-Wall Street Revolving Door Just Keeps Spinning Along (Original post)
Better Believe It Jan 2012 OP
msongs Jan 2012 #1
Better Believe It Jan 2012 #2
uponit7771 Jan 2012 #3
FarLeftFist Jan 2012 #4
Better Believe It Jan 2012 #6
FarLeftFist Jan 2012 #8
Better Believe It Jan 2012 #12
FarLeftFist Jan 2012 #15
EFerrari Jan 2012 #7
TheKentuckian Jan 2012 #9
FarLeftFist Jan 2012 #11
TheKentuckian Jan 2012 #17
Mojorabbit Jan 2012 #13
Tierra_y_Libertad Jan 2012 #5
one_voice Jan 2012 #16
Uncle Joe Jan 2012 #10
gratuitous Jan 2012 #14
LineNew Reply ^
Wilms Jan 2012 #18
Cali_Democrat Jan 2012 #19
bvar22 Jan 2012 #20

Response to Better Believe It (Original post)

Tue Jan 24, 2012, 01:28 PM

1. does obama even known any progressive/liberal non-wall street type economics people? nt

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Response to msongs (Reply #1)

Tue Jan 24, 2012, 01:35 PM

2. Yes he does. But how can they be trusted to represent Wall Street fat cats?

 

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 01:49 PM

3. Yeap, just like FDR....todays progressives would hate FDR

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 01:52 PM

4. Isn't this like the 3rd or 4th time this story has been posted?

The GD forum is becoming a cesspool.

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Response to FarLeftFist (Reply #4)

Tue Jan 24, 2012, 02:07 PM

6. Do you have an opinion on the article? If you do, I'd like to read it.

 


I haven't seen this article before on this board.

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Response to Better Believe It (Reply #6)

Tue Jan 24, 2012, 02:17 PM

8. Yes, my opinion of the article is this:

If you don't think Wall Street is going to hand Pres. Obama a 2nd term on a silver fucking platter can I have some of your amazing cocaine? In the meantime the hyper-progressives are willing to undermine the most progressive-minded president in at least a generation.

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Response to FarLeftFist (Reply #8)

Tue Jan 24, 2012, 02:27 PM

12. So you think that Wall Street is going to hand Obama a second term in return for what?

 


And it's true as you point out that on some issues President Obama is more progressive than President Clinton, the Bushes and Reagan. That's not saying a hell of a lot and I think everyone assumes that. And on others, such as civil liberties, he isn't.

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Response to Better Believe It (Reply #12)

Tue Jan 24, 2012, 02:40 PM

15. It's true that on some issues Obama is far more progressive than FDR, Truman, and LBJ also.

Civil liberties? Ha! FDR rounded up American citizens and put them in internment camps. On a different note, Truman is responsible for a near apocalypse in two Japanese cities. And Johnson well, Vietnam.

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Response to FarLeftFist (Reply #4)

Tue Jan 24, 2012, 02:08 PM

7. Yeah, stop polluting GD with BILL MOYERS.

lmao

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Response to FarLeftFist (Reply #4)

Tue Jan 24, 2012, 02:17 PM

9. The story is pertinent. How the hell is posting Bill Moyers adding to or creating a cesspool?

Are there points you'd like to debate? Or is it that you have switched the meanings of sunshine and sewage?

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Response to TheKentuckian (Reply #9)

Tue Jan 24, 2012, 02:24 PM

11. It has nothing to do with Moyers as much as it has to do with the repetitiveness of the same story.

Guess I miss DU2 when new topics filled the GD instead of the same old re-hashed stories. Feel like we're all debating the same 5 stories over and over and over again.

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Response to FarLeftFist (Reply #11)

Tue Jan 24, 2012, 03:01 PM

17. I don't think anything is being debated. Generally, what we see is an all out assault on messenger

accusations of love of TeaPubliKlans, a few call outs of members, "The List", eyes rolling at "The List", defense of "The List", a few sermons that acknowledge Obama's inperfection/humanity while pretending anyone thought otherwise, some crap by Andrew Sullivan, David Brooks, or some other Republican is lauded, a round of attacks on FDR, random lash outs at an old institutional bigot with no shot, and about 14 posters give shitting on our rights and liberties standing ovations and argue the TeaPubliKlans would be worse so suck it up and hope for the best in silence, and of course a few rounds of McCarthyisim with a side of hippie punching and screeching like spoiled brats for purges because their numbers and weak assed arguments cannot carry the day.

It is hard to lament the movement of conversation when a certain faction is outspoken in the aim to shut down debate and swarms writers with an almost rock solid refusal to discuss the points made.

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Response to FarLeftFist (Reply #4)

Tue Jan 24, 2012, 02:34 PM

13. Do you have an opinion on the article itself? nt

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 02:00 PM

5. Well, the real bosses have to have an avenue of communication with president.

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Response to Tierra_y_Libertad (Reply #5)

Tue Jan 24, 2012, 02:40 PM

16. Is that supposed to be Obama?

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 02:20 PM

10. Kicked and recommended.

Thanks for the thread, Better Believe It.

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 02:36 PM

14. Welcome to the underside of the bus, Messrs. Moyers and Winship

Don't you realize how progressive-minded this president is? Ignore the results and the reality, and focus instead on little snippets gleaned from the president's speeches and remarks. That's where the real substance of this administration is!

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 07:06 PM

18. ^

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 07:08 PM

19. Well, Mr. Moyers, I hope you find a nice comfy spot under that bus....

beware, it might be a little cramped under there.

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Response to Better Believe It (Original post)

Tue Jan 24, 2012, 07:25 PM

20. DURec for Bill Moyers.





You will know them by their WORKS,
not by their excuses.
Solidarity99!
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